The euro has been trading sideways against the dollar between 1.0985 and 1.1045, but recent U.S. data disrupted this balance, affecting momentum.
Today's U.S. retail sales data showed an increase of 1.0%, significantly higher than the estimated 0.4%, indicating unexpected strength in the U.S. economy.
The prospects of convergence between the U.S. economy and lower interest rates elsewhere are supporting the EUR/USD pair, as the forex options market reflects a shift.
Despite recent data suggesting a stronger U.S. economy, the Eurozone's lack of significant information contributes to uncertainty in the EUR/USD exchange rate.
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